The House of Representatives Aims to Lower Rice Prices
The House of Representatives is set to begin plenary debates this week on a bill that aims to lower the price of rice to below p30 a kilo. Speaker Martin Romualdez announced on Sunday that they would expedite debates on amendments to the Rice Tariffication Law (RTL) and have it passed on a second reading by May 15.
“We recognize the urgency of addressing the challenges faced by consumers due to high rice prices. Through these plenary debates, we are taking decisive action to bring about meaningful change and ease the financial strain on Filipino households,” Romualdez said.
A statement from the House mentioned that the plenary debates will commence once the measure is sponsored by the House Committee on Agriculture and Food, chaired by Quezon 1st District Representative Wilfrido Mark Enverga.
The Importance of Lowering Rice Prices
The Committee approved the bill, a substitute for five others, subject to style and amendments. Romualdez stated that the substitute bill aims to bolster the competitiveness and resilience of the rice industry while ensuring affordable access to the essential staple for all Filipinos. The goal is to have the RTL amended by July to lower rice prices to under p30 a kilo, making rice more affordable for every Filipino family.
“By amending the RTL, we aim to bring about tangible reductions in rice prices, ensuring that Filipino consumers are not unduly burdened by high food costs,” Romualdez emphasized. “Lowering rice prices to less than p30 is a crucial step towards ensuring food security and economic stability for all.”
The Amendment of the Rice Tariffication Law
On May 6, President Ferdinand Marcos Jr. announced that he would certify the amendment of the RTL as urgent. The RTL was signed into law in 2019, replacing quantitative restrictions on imported rice with tariffs and establishing the Rice Competitive Enhancement Fund (RCEF). However, the law also removed the National Food Authority’s (NFA) power to intervene in the market.
The substitute bill seeks to restore the NFA’s role in managing the country’s rice supply chain under the proposed amended RTL. Additionally, the bill grants temporary powers to the NFA in cases of price spikes or acute shortages. Furthermore, the amended RTL will strengthen the Bureau of Plant Industry to ensure that warehouses comply with sanitary and phytosanitary standards.
It is crucial to understand the significance of this bill in the context of the Philippines. Rice is a staple food in the country, and high rice prices can have a significant impact on the financial well-being of Filipino households. By lowering rice prices, the government aims to alleviate the financial strain on families and ensure that every Filipino has access to affordable rice.
Moreover, the amendment of the RTL not only focuses on reducing rice prices but also aims to strengthen the competitiveness and resilience of the rice industry. This is essential for the country’s overall food security and economic stability. By providing affordable access to rice, the government can ensure that Filipinos have a stable food supply and mitigate the impact of price fluctuations.
The involvement of the National Food Authority in managing the rice supply chain is another critical aspect of the bill. The NFA plays a vital role in monitoring and regulating the rice market, ensuring that there are no price spikes or acute shortages. Granting temporary powers to the NFA in such cases allows for swift action to address any disruptions in the rice supply, safeguarding the availability and affordability of rice for the Filipino population.
Additionally, the amendment also focuses on strengthening the Bureau of Plant Industry to ensure that warehouses comply with sanitary and phytosanitary standards. This is crucial for maintaining the quality and safety of rice, protecting consumers from potential health risks.
Overall, the bill to amend the Rice Tariffication Law is a significant step towards addressing the challenges faced by Filipino consumers due to high rice prices. By lowering rice prices, strengthening the rice industry, and ensuring effective management of the rice supply chain, the government aims to enhance food security and economic stability for all Filipinos.
Source: The Manila Times